(Reuters) – Swiss Marketplace Group is set to be valued at up to $5.6 billion in its upcoming IPO on the Swiss stock exchange, which is to take place on or around September 19, major stakeholder TX Group said on Thursday.
SMG has begun its bookbuilding process with an estimated market capitalisation of between 4.2 billion and 4.5 billion Swiss francs. Its shares will be sold for between 43 and 46 Swiss francs ($53.84-$57.60) each, TX Group said in a statement.
Pictet and BlackRock have already agreed to purchase shares for 150 million francs each, at an offer price up to 46 francs per share, SMG said on Thursday.
Bookrunners later announced that IPO books were covered on the full deal size throughout the price range.
The online property portal, the largest of its kind in Switzerland, operates websites including Immoscout24 and car platform Autoscout24, and had announced earlier this month its intention to go public.
SMG is currently on the radar of Swiss competition authority COMCO, which said on Wednesday it is making preliminary antitrust checks on the business.
($1 = 0.7986 Swiss francs)
(Reporting by Marleen Kaesebier and Ariane Luthi; Editing by Ludwig Burger and Matt Scuffham)
